Circle Eyes $5 Billion Sale, Engages Coinbase and Ripple: Report

Circle Internet Financial, known for its USDC stablecoin, is reportedly seeking buyers at a valuation of at least $5 billion, involving entities such as Coinbase and Ripple. While continuing its plans for a public offering, Circle turned down Ripple's bid earlier this year, which ranged between $4 billion to $5 billion. This follows Circle's previous withdrawal from a SPAC merger in 2022 that would have valued it at $9 billion. Circle and Coinbase have a longstanding relationship through the CENTRE Consortium managing USDC. Coinbase is active in acquisitions, while Ripple recently launched a stablecoin on Kraken.